Russell Investments Group Ltd. Takes $744,000 Position in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Russell Investments Group Ltd. purchased a new position in JinkoSolar Holding Co., Ltd. (NYSE:JKS) in the fourth quarter, Holdings Channel reports. The fund purchased 29,911 shares of the semiconductor company’s stock, valued at approximately $744,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC grew its position in shares of JinkoSolar by 30.2% during the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 537 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in JinkoSolar in the fourth quarter valued at approximately $119,000. New York State Common Retirement Fund bought a new position in shares of JinkoSolar during the fourth quarter valued at approximately $132,000. Cornerstone Investment Partners LLC acquired a new stake in shares of JinkoSolar during the 4th quarter worth approximately $231,000. Finally, Trexquant Investment LP bought a new stake in shares of JinkoSolar in the 4th quarter worth approximately $341,000. 35.82% of the stock is owned by institutional investors.

JinkoSolar Trading Up 2.6 %

JinkoSolar stock opened at $16.78 on Wednesday. The stock has a market capitalization of $891.94 million, a PE ratio of 28.44 and a beta of 0.17. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. JinkoSolar Holding Co., Ltd. has a 12-month low of $13.42 and a 12-month high of $37.36. The firm has a 50 day simple moving average of $19.96 and a 200-day simple moving average of $22.39.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.55). JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The firm had revenue of $20.65 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the business posted $0.54 earnings per share. The firm’s revenue for the quarter was down 37.1% compared to the same quarter last year. As a group, equities research analysts expect that JinkoSolar Holding Co., Ltd. will post -0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Glj Research reduced their price target on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a report on Thursday, January 23rd. UBS Group dropped their price target on shares of JinkoSolar from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Daiwa Capital Markets downgraded JinkoSolar from an “underperform” rating to a “sell” rating in a research report on Friday, January 10th. Finally, The Goldman Sachs Group lowered their target price on JinkoSolar from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Thursday, March 27th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $27.19.

About JinkoSolar

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.